In his September 2009 South Florida Market Update, Ron Shuffield, President of EWM Realtors, gives us a quick overview of residential real estate trends and inventory level changes over the past year. How are sales, values and inventory levels? What are the implications for buyers and sellers? Read below.
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How does Coral Gables compare? In Coral Gables we see a trend of lower inventory, steady sales and higher pending sales during the month of August. According to MLS data, total inventory in Coral Gables dropped from 988 homes and condos for sale in August 2008 to 811 in August 2009, a 17,9% decrease. During the same period, sales remained steady, while pending sales (homes and condos that have gone under contract) were up 31.9%.
Coral Gables (August 2008-August 2009)
For Sale -17.9%
Sold 0%
Pending Sales +31.9%
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